Wells Fargo & Company Forecasts Strong Price Appreciation for OneMain (NYSE:OMF) Stock

OneMain (NYSE:OMF) had its price target hoisted by Wells Fargo & Company from $52.00 to $57.00 in a research report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com cut OneMain from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. JMP Securities boosted their target price on shares of OneMain from $60.00 to $62.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of OneMain from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Stephens initiated coverage on shares of OneMain in a research note on Wednesday, November 13th. They set an “overweight” rating and a $62.00 price objective on the stock. Finally, Barclays cut shares of OneMain from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $52.00 to $46.00 in a research note on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, OneMain has an average rating of “Moderate Buy” and a consensus price target of $56.69.

OneMain Stock Up 1.6 %

NYSE OMF opened at $58.03 on Tuesday. The stock has a market cap of $6.93 billion, a P/E ratio of 12.70, a PEG ratio of 0.48 and a beta of 1.58. OneMain has a twelve month low of $41.70 and a twelve month high of $58.22. The company’s 50-day simple moving average is $54.52 and its 200 day simple moving average is $50.47.

OneMain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were given a $1.04 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $4.16 dividend on an annualized basis and a yield of 7.17%. OneMain’s payout ratio is 91.03%.

Insiders Place Their Bets

In other OneMain news, SVP Michael A. Hedlund sold 1,992 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $52.00, for a total transaction of $103,584.00. Following the completion of the sale, the senior vice president now owns 18,955 shares in the company, valued at approximately $985,660. The trade was a 9.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas H. Shulman sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $53.00, for a total value of $265,000.00. Following the completion of the transaction, the chief executive officer now owns 412,474 shares in the company, valued at $21,861,122. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,492 shares of company stock valued at $1,582,384. 0.45% of the stock is currently owned by insiders.

Institutional Trading of OneMain

A number of institutional investors and hedge funds have recently modified their holdings of OMF. Clearbridge Investments LLC lifted its stake in OneMain by 1.3% in the second quarter. Clearbridge Investments LLC now owns 1,914,355 shares of the financial services provider’s stock valued at $92,827,000 after buying an additional 24,338 shares in the last quarter. TCW Group Inc. boosted its stake in OneMain by 23.7% in the 3rd quarter. TCW Group Inc. now owns 55,999 shares of the financial services provider’s stock worth $2,636,000 after purchasing an additional 10,744 shares during the period. Frank Rimerman Advisors LLC bought a new position in OneMain during the 2nd quarter worth about $608,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of OneMain by 13.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,276 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 271 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of OneMain by 19.5% during the second quarter. AQR Capital Management LLC now owns 678,499 shares of the financial services provider’s stock worth $32,900,000 after buying an additional 110,862 shares in the last quarter. 85.82% of the stock is owned by institutional investors.

OneMain Company Profile

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.